Spreadex Market Update
Greece draws focus on this quiet post-Christmas Monday
With little in the way of economic news today, the focus is on Greece and its crucial final round of presidential elections. So far candidate Stavros Dimas has failed in his bid to be elected and another failure today would cause a full-blown general election for the Greeks. Whilst a democratic election should be nothing to fear for a Western country, economists are concerned it could lead to a victory for the left-wing Syriza part, and put Greece’s international bailout in jeopardy.
Greece is emblematic of Eurozone economic disaster, and has gained extra prominence in the eyes of the European economic elite due to its recent volatility; the ECB will be watching carefully for any new waves stemming from Athens. Despite this potential problem, the DAX opened stronger than its weak Christmas close, following last week’s previous Greek election disappointment. However, the effect of that instance does not bode well for the Eurozone this afternoon.
In the UK the FTSE started the morning strongly, up over 30 points on its Christmas close; however, the renewed decline of oil, which once again has fallen below the $60 per barrel level it had been circling around last week, as had the usual effects on the UK index. With no UK-specific news today, the FTSE will be looking to the results in Greece and the US open in order to set the tone for its market performance on this quiet Monday.
After finally reaching the 18000 level days before the Christmas period, US futures are pointing to the continued success of the Dow Jones and its American peers. There is little to disrupt this trend today, unless oil’s decline worsens as the global markets look to the USA to create bullish sentiment out of nothing on this sleepy start to the week.
Finally, as the Nikkei was buoyed by the US GDP figures last week to maintain its own 18000 levels, an Ebola scare this morning saw the Japanese index shed 250 points as investors fled the potential infection. The immediate health of the Nikkei will now be dependent on the accuracy of this scare; if it proves to be unfounded the index can expect to rebound tomorrow off of this afternoon’s likely US strength.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
